BOSS Eddie Howe knows Cherries may have to spend big in an attempt to improve their squad but insists there is a limit to what they would pay.

Howe says he is “hoping” to bolster his resources with at least one quality addition ahead of the closing of the transfer deadline.

And while he admits Cherries are “not exempt” from paying high transfer fees, he also says the club does not have a “bottomless pit” at its disposal.

Cherries have been linked heavily over the past month with Birmingham City winger Demarai Gray with reports claiming they have already had four bids rejected by their Championship rivals.

The latest offer was believed to have been worth around £3.5million with suggestions Cherries may test Birmingham’s resolve further with a fifth and final bid before the deadline.

In a candid interview, Howe spoke openly about the transfer window in general but politely declined to comment on speculation linking Cherries with a move for Gray.

Asked whether he anticipated a busy final day, Howe replied: “I have made no secret of the fact we are looking to recruit a player so I hope so. Whether it is or not, remains to be seen. That is the beauty of this transfer market and deadline day. It is an exciting day for everybody and we would love to be able to bring in a player.”

Howe, asked whether Cherries had a “ceiling” on what they might spend, added: “As the years go by, players seem to get more and more expensive but that is the lie of the land.

“When you are in the Championship – and despite the fact our name is AFC Bournemouth – we are not exempt from paying high fees. That is the reality. When you try to sign good players, they come at a cost.

“There is obviously a ceiling in terms of money. There is not a bottomless pit here and I think we have been very careful with the owner’s money. We have built a competitive squad, I am not saying with minimal outlay, but with some good acquisitions and, hopefully, we can continue that trend.”

Asked whether Cherries’ position at the top of the Championship and the possibility of promotion had altered his focus regarding his targets, Howe replied: “When we sign players, we don’t just look at the rest of the season or the next six months or year. We have done that with every signing we have made since we have been in the Championship.

“There is a long-term vision. We look for players who we think can improve and move forward with us and with the players we have here. That is how we do things.”

And asked whether he would be maintaining his stance of not commenting on his potential targets, Howe joked: “Unless I suddenly change my philosophy, which I don’t see happening, that will very much remain how I do things!”

He added: “I don’t think it is right to comment on targets or other clubs’ players. I wouldn’t like it if we were the potential selling club so we will do our business behind closed doors. That is the way I feel it should be done out of respect to everybody.”